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Trends in the European Fund Industry in Q1 2016

Highlights of the developments in Q1 2016 include:


  • Net sales of UCITS and AIF reached EUR 37 billion, compared to EUR 171 billion in Q4 2015. The sharp drop in net sales was mostly due to lower net sales of UCITS.
  • UCITS net sales registered net outflows of EUR 6 billion, compared to net inflows of EUR 122 billion in Q4 2015.
  • Long-term UCITS, i.e. UCITS excluding money market funds, recorded net outflows of 4 billion, compared to net inflows of EUR 83 billion in Q4 2015. Equity funds recorded a turnaround net sales, from net inflows of EUR 57 billion in Q4 2015 to net outflows of EUR 3 billion in Q1 2016. Net sales of multi-asset funds slowed down from EUR 31 billion in Q4 2015 to EUR 6 billion in Q1 2016, whereas bond funds continued to record net outflows, i.e. EUR 9 billion, the same level as in Q4 2015.
  • UCITS money market funds also saw a turnaround in net sales, from net inflows of EUR 39 billion in Q1 2015 to net outflows of EUR 2 billion in Q1 2016.
  • AIF net sales amounted to EUR 43 billion in Q1 2016, compared to EUR 48 billion in Q4 2015. The solid net sales performance of AIF reflected the good net sales level of equity funds (EUR 7 billion, compared to net outflows of EUR 5 billion in Q4 2015), and of multi-assets funds (EUR 20 billion, compared to EUR 15 billion in Q4 2015)
  • Total European investment fund net assets decreased by 2.1% in Q1 2016 to EUR 13,039 billion. Net assets of UCITS fell by 3.4% in Q1 2016 to EUR 7,907 billion, and total net assets of AIFs only decreased by 0.1% to EUR 5,110 billion.

Quarterly Statistical Release Q1 2016

EFAMA Data Q1 2016